• AP Macroeconomics


    Text: Ray, Margaret, and David Anderson. Krugman's Macroeconomics for AP. New York: Worth Publishers/BFW, 2011.


    Course Description:

    “The purpose of this AP course in Macroeconomics is to give students a thorough understanding of the principles of economics that apply to an economic system as a whole. Such a course places particular emphasis on the study of national income and price-level determination, and also develops students' familiarity with economic performance measures, the financial sector, stabilization policies, economic growth, and international economics.” (AP Course Description Manual 2010)


    Class Activities/Work:

    • Completion of graphing and interpretation exercises
    • Selected readings, assignments and discussions from Anderson, David. Economics by Example. New York: Worth, 2007.
    • There will be 9 Tests during this course (8 Section Exams and a Graphing Exam), as well as various quizzes as necessary.
    • It is expected that all students will take the AP Macroeconomics exam scheduled in May. There will be review sessions. It is expected that students will be at a minimum of 65% of these review days.  Review will include test taking strategy and practice tests as well as content review.


    Course Outline

    % of AP Test               Topic                                                                                

    Unit 1                                                                                     

    8-12% of AP               Basic Economic Concepts                                                                                                              

                            Section 1   
                            Module 1: The Study of Economics

                                        Module 2: Introduction to Macroeconomics

                                        Module 3: The Production Possibilities Curve Model    

                                        Module 4: Comparative Advantage and Trade

                            Section 2                                                                                                                    

                                        Module 5: Introduction to Demand

                                        Module 6: Supply and Equilibrium

                                        Module 7: Changes in Equilibrium

                                        Module 8: Price Controls (If we have Time)

    Unit 2                                                                                     

    12-16% of AP             Measurement of Economic Performance                                        

                            Section 3                                                                                                                    

                                        Module 10: The Circular Flow and GDP

                                        Module 11: Interpreting RGDP

                                        Module 12: The Meaning and Calculation of Unemployment

                                        Module 13: The Causes and Categories of Unemployment

                                        Module 14: Inflation: An Overview

                                        Module 15: The Measurement and Calculation of Inflation

    Unit 3                                                                                                 

    10-15% of AP             National Income and Price Determination

                            Section 4                                                                                                                    

                                        Module 16: Income and Expenditures

                                        Module 17: AD: Introduction and Determinants

                                        Module 18: AS: Introduction and Determinants

                                        Module 19: Equilibrium in the AD/AS Model

                                        Module 20: Economic Policy and the AD/AS Model

                                        Module 21: Fiscal Policy and the Multiplier

    Unit 4                                                                                                 

    15-20% of AP             Financial Sector                                            

                            Section 5                                                                                                                    

    Module 22: Saving, Investment and the Financial System                      

                                        Module 23: The Definition and Measurement of Money

                                        Module 24: The Time Value of Money

                                        Module 25: Banking and Money Creation

                                        Module 26: The Fed. History and Structure

                                        Module 27: The Fed. Monetary Policy

                                        Module 28: The Money Market

                                        Module 29: The Market for Loanable Funds

    Unit 5                                                                                                 

    20-30% of AP             Inflation, Unemployment and Stabilization Policies

                            Section 6                                                                                                                    

    Module 30: Long Run Implications of Fiscal Policy:

    Deficits and the Public Debt

                                        Module 31: Monetary Policy and the interest Rate

                                        Module 32: Money, Output and Prices in the Long Run

                                        Module 33: Types of Inflation, Disinflation and Deflation

                                        Module 34: Inflation and Unemployment: The Phillips Curve

                                        Module 35: History and Alternative Views of Macroeconomics

                                        Module 36: The Modern Macroeconomic Consensus

    Unit 6                                                                                                 

    5-10% of AP               Economic Growth and Productivity              

                            Section 7                                                                                                                    

    Module 37: Long Run Economic Growth

                                        Module 38: Productivity and Growth

                                        Module 39: Growth Policy: Why Economic Growth Rates Differ

                                        Module 40: Economic Growth in Macroeconomic Models

    Unit 7

    10-15% of AP             Open Economy: International Trade and Finance

                            Section 8                                                                                                                    

    Module 41: Capital Flows and the Balance of Payments

                                        Module 42: The Foreign Exchange Market

                                        Module 43: Exchange Rate Policy                                                        

                                        Module 44: Exchange Rates and Macroeconomic Policy

                                        Module 45: Putting it All Together


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